The Seven Ps of Product Information Management

Dealing with an increasing number assortments, products and channels, marketing professionals now turn to product information management (PIM) platforms for managing the situation. As much as these platforms are the solution for achieving a great structure for the information being channeled, there is one important component that is often missing: the ability to plan the information flow.

Most people have heard of the seven Ps to success. It simply states that “Proper Prior Planning Prevents P*ss Poor Performance”. With that phrase in mind, it is not hard to understand that having a good plan in place makes all the difference. Yet despite hearing it so many times, putting a plan on the table can be hard to achieve.

Good planning needs to be preceded by setting some reachable goals, but as the famous author Stephen Covey put it: "Stop setting goals. Goals are pure fantasy unless you have a specific plan to achieve them”.

Since the start, the focus of traditional product information management has been on managing product data integrations and flows. However, the real need of the marketing professional is the ability to create, plan and release great product stories. There are a lot of tools on the market that help a product-selling organization plan activities, but what use is such a tool if you cannot plan the actual work ahead?

This is why a few PIM vendors have added a planning functionality, providing a crucial component to the whole product release process. This new approach combines PIM and MRM/planning – a powerful combination that puts the marketer in charge of the entire product marketing process from beginning to end, making planning a natural part of the process.

Creating a great customer experience in any channel is extremely dependent on the content that is provided. The richer, more accurate and more timely the information is, the better. With planning capabilities available in a PIM, vendors can now start their product marketing process by planning campaigns, assortments and any other marketing activities in the same platform as they manage the product information. Having set the project scope, milestones, budget and schedule as the metrics to determine project success from the start, users can easily see the full plan and critical path ahead. Based on this, they can easily keep track of, enrich and publish the right content into the right channel at the right time.

Do not let poor planning get in the way of success when it comes to creating quality product content across all your sales channels, for a world-class customer experience.

 

Henrik Béen, Chief Product Officer